Barclays Increases Prologis (NYSE:PLD) Price Target to $142.00

Prologis (NYSE:PLD) had its price objective upped by Barclays from $123.00 to $142.00 in a research report sent to investors on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the real estate investment trust’s stock.

Several other research analysts have also issued reports on PLD. StockNews.com raised shares of Prologis from a sell rating to a hold rating in a research report on Thursday, July 18th. UBS Group dropped their price target on shares of Prologis from $151.00 to $138.00 and set a buy rating for the company in a research report on Thursday, April 18th. Argus increased their price target on shares of Prologis from $120.00 to $135.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Evercore ISI increased their price target on shares of Prologis from $119.00 to $123.00 and gave the stock an in-line rating in a research report on Thursday, July 18th. Finally, Scotiabank dropped their price objective on shares of Prologis from $149.00 to $130.00 and set a sector outperform rating for the company in a report on Thursday, May 16th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Prologis has a consensus rating of Moderate Buy and a consensus price target of $130.93.

Prologis Stock Down 2.9 %

NYSE PLD opened at $123.98 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.29 and a current ratio of 0.36. The firm has a 50-day simple moving average of $115.08 and a 200 day simple moving average of $119.79. Prologis has a twelve month low of $96.64 and a twelve month high of $137.52. The stock has a market cap of $114.79 billion, a PE ratio of 36.25, a PEG ratio of 2.98 and a beta of 1.06.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.41). Prologis had a net margin of 36.37% and a return on equity of 4.88%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business posted $1.83 EPS. The firm’s quarterly revenue was down 18.1% on a year-over-year basis. On average, research analysts forecast that Prologis will post 5.43 EPS for the current year.

Prologis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were paid a dividend of $0.96 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.10%. Prologis’s dividend payout ratio (DPR) is currently 112.28%.

Institutional Trading of Prologis

Hedge funds have recently modified their holdings of the stock. Optimum Investment Advisors bought a new stake in shares of Prologis during the first quarter valued at approximately $26,000. American Capital Advisory LLC bought a new position in Prologis in the second quarter valued at approximately $26,000. True Wealth Design LLC bought a new position in Prologis in the fourth quarter valued at approximately $27,000. Central Valley Advisors LLC bought a new position in Prologis in the second quarter valued at approximately $29,000. Finally, JFS Wealth Advisors LLC boosted its stake in Prologis by 254.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 168 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.